Regulation 41 - Obligations of the company. - Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

PART B : GENERAL OBLIGATIONS 41. Obligations of the company. The company shall ensure that - (a) the explanatory statement to the notice for general meeting contains the disclosures specified under clause (b) of sub-section (1) of section 54 of the Companies Act, 2013 (18 of 2013) and sub-regulation (1) of regulation 32 of these regulations. (b) the secretarial auditor s certificate required under regulation 36 is placed in the general meeting of the shareholders. (c) the company, within seven days of the issue of sweat equity shares, sends a statement to the recognised stock exchange, disclosing: (i) number of sweat equity shares issued; (ii) price at which the sweat equity shares are issued; (iii) total amount received towards sweat equity shares; (iv) details of the persons to whom sweat equity shares have been issued; and (v) the consequent changes in the capital structure and the shareholding pattern before and after the issue of sweat equity shares.